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you said you'd cut the deficit in half, it's four years later we have trillion dollar deficits. the c.b.o. says we'll have a trillion dollar deficit the next four years. if you're reelected we'll get to a trillion dollar debt. you said before you would cut the deficit in half. and i love this idea of $4 trillion in cuts. you found four trillion dollars to get closer to a balanced budget except we still show trillion dollar deficits every year. that doesn't get the job done. let me come back and say why is it that i don't want to raise taxes? why don't i want to raise taxes on people? and actually you said it. back in 2010 you said i'm going to extend the tax policies that we have now. i'm not going to raise taxes on anyone because when the economy is growing slow like this, when we're in recession, you shouldn't raise taxes on anyone. well, the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made that statement. and so if you believe the same thing, you just don't want to raise taxes on people. and the reality is it's not just
you said you'd cut the deficit in half, it's four years later we have trillion dollar deficits. the c.b.o. says we'll have a trillion dollar deficit the next four years. if you're reelected we'll get to a trillion dollar debt. you said before you would cut the deficit in half. and i love this idea of $4 trillion in cuts. you found four trillion dollars to get closer to a balanced budget except we still show trillion dollar deficits every year. that doesn't get the job done. let me come back and...
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we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- how we pay for that, reduce the deficit and making the investments we need without dumping the cost on the middle- class americans. that is one of the central questions of this campaign. >> you have spoken about a lot of different things. governor romney, do you have a question you would like to ask directly about something he just said? >> i do not have a tax-cut scale you're talking about. we have to provide tax relief to people in the middle class. i will not reduce the share of taxes paid by high income people. they are doing fine in the economy. the people who are having a hard time are middle-income americans. under the president's policies, they have been bu
we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- how we pay for that, reduce the deficit and making the investments we need without dumping the cost on the middle- class americans. that is one...
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he said he would cut the deficit in half. we still have trillion dollar deficits. if you are reelected, we will get to a trillion dollar debt. you have said he will cut the deficit in half. you find $4 trillion in cuts. we still show trillion dollar deficit a year. that does not get the job done. why is it that i do not want to raise taxes? i do not want to raise taxes on people. in 2010, he said he would extend the tax policies we have now and not raise taxes because when the economy is going so like this, you should not raise taxes on anyone. the economy is still going slow. it is growing more slowly now than when he made that statement. if he believed the same thing -- the reality is it is not as wealthy people. it is not just donald trump you are taxing. it is the people that employ 1 quart of the workers that are taxed as individuals. you raise taxes and kill jobs. that is why the national federation of independent businesses said your plan will kill 7000 jobs. >> but stay on the tax system for a moment. the deficit there has to be revenue in addition to cuts.
he said he would cut the deficit in half. we still have trillion dollar deficits. if you are reelected, we will get to a trillion dollar debt. you have said he will cut the deficit in half. you find $4 trillion in cuts. we still show trillion dollar deficit a year. that does not get the job done. why is it that i do not want to raise taxes? i do not want to raise taxes on people. in 2010, he said he would extend the tax policies we have now and not raise taxes because when the economy is going...
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Oct 4, 2012
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no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason is because i believe that we do best when the middle- class is doing well. by giving them those tax cuts, they have more money in their pocket. maybe it does not buy new car. they are in a better position to weather the extraordinary recession we went through. they may be able to buy new computer for their kid who is going off to college. governor romney's proposal that he has been promoting for 18 months calls for of five trillion dollars tax cut on top of $2 trillion of additional spending for our military. he is saying he is going to p
no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason...
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that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked all her life, put in this money, and understood that there was a basic guarantee under which she could not go. that's the perspective i bring when i talk about what's called entitlements. the name implies some sort of dependency on the part of folk. these are folks that have worked hard, like my grandmother and millions are counting on this. my approach is to say how do we strengthen the system over the long term? in medicare, what we did, we said we are going to have to bring down the costs if we are going to deal with long-term deficits. to
that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked...
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Oct 4, 2012
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you said you would cut the deficit in half. we have trillion-dollar deficits. cbo says we will have a trillion-dollar deficit each of the four years. you have said before, you would cut the deficit in half. i love this idea of $4 trillion in cuts and ways to reduce or get closer to a balanced budget, but we show trillion-dollar deficits every year that. doesn't get the job done. let me say, why is it that i don't want to raise taxes? why don't i want to raise taxes on people? and actually, you said it in 2010, you said, i am going to extend the tax policies i have. i am not going to raise taxes because when the economy's slow and we are in recession, you shouldn't raise taxes on anyone. the economy is still slow. as a matter of fact, it's growing more slowly now than when you made that statement. if you believe the same thing, you don't want to raise taxes on people. the reality is, it is not just donald trump you are taxing. it is all those businesses that employ one-quarter of the work fwherz america. these small businesses that are taxed as individuals. you
you said you would cut the deficit in half. we have trillion-dollar deficits. cbo says we will have a trillion-dollar deficit each of the four years. you have said before, you would cut the deficit in half. i love this idea of $4 trillion in cuts and ways to reduce or get closer to a balanced budget, but we show trillion-dollar deficits every year that. doesn't get the job done. let me say, why is it that i don't want to raise taxes? why don't i want to raise taxes on people? and actually, you...
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you said you would cut the deficit in half. and we'll have a trillion dollar deficit each of the next four years. if you are re-elected we'll get to a trillion dollar deficit. you said before you would cut it in half. i love this idea of $4 trillion in cuts. you've found $4 trillion to get closer to a balanced budget, yet we still have trillion dollar deficits every year. let me come back -- why don't i want to raise taxes? why don't i want to raise taxes on people? and actually you said it. back in 2010, you said, look, i'm going to extend the tax policies we have. i won't raise taxes on anyone. when we're in a recession, you shouldn't raise taxed on anyone. the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made the statement. if you believe the same thing, you don't want to raise taxes on people. and the reality is, it's not just wealthy people, not just donald trump are you taxing. it's all the businesses that employ one quarter of the workers in america, that are taxes a
you said you would cut the deficit in half. and we'll have a trillion dollar deficit each of the next four years. if you are re-elected we'll get to a trillion dollar deficit. you said before you would cut it in half. i love this idea of $4 trillion in cuts. you've found $4 trillion to get closer to a balanced budget, yet we still have trillion dollar deficits every year. let me come back -- why don't i want to raise taxes? why don't i want to raise taxes on people? and actually you said it....
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Oct 4, 2012
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no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle class families by about $3,600. and the reason is, because i believe that we do best when the middle class is doing well. and by giving them those tax cuts, they have a little more money in their pocket. so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession that we've went through. they can buy a computer for their kid, who's going off to college. which means they're spending more money, businesses have more customers, businesses make more profits, and then hire more workers. now, govern
no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle...
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we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've got some money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that we live in, that we can afford to do a little bit more to make sure we're not blowing up the deficit. >> jim, the president began this segment, so i think i get the last word, so i'm going to take it. >> lehrer: you're going to get the first word in this segment. >> let me just make this comment-- let me repeat what i said. i'm not in favor of a $5 trillion tax cut. that's not my plan. my plan is not to put in place a
we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've...
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cutting the deficit. romney ended with the divisiveness, saying he would on day one be able to be collaborative, bring the two sides together. and, of course, in his closing statements, was very specific in term of where he is going to allocate capital and where he would not. and he mentioned the military, insuring that keeping america safe is one of the priorities. and that means not cutting military spending. >> i want to get thoughts on the debate from our john harwood who is on the ground in denver. what is your first reaction? >> my first reaction is that it was a strong debate for mitt romney. it's always hard for me to judge what millions of americans sitting in their living rooms are going to conclude about the debate. neither candidate had a huge stumble. i thought mitt romney had an especially strong moment when he confronted the president on cutting the deficit and challenged him directly. the bottom line i take from talking to people who work in politics and campaigns is the republicans are an
cutting the deficit. romney ended with the divisiveness, saying he would on day one be able to be collaborative, bring the two sides together. and, of course, in his closing statements, was very specific in term of where he is going to allocate capital and where he would not. and he mentioned the military, insuring that keeping america safe is one of the priorities. and that means not cutting military spending. >> i want to get thoughts on the debate from our john harwood who is on the...